Arizona Quickest to $1 Billion In Wagers

Arizona's online and retail sportsbooks officially stretched their unprecedented start into a third month with nearly $470 million in wagers and more than $50 million in gross gaming revenue in November. By doing so, Arizona became the quickest to reach $1 billion in wagering after launch, according to analysts from PlayAZ.com, which tracks the fledgling Arizona gaming market.

"The timing of Arizona's launch could not have been better for sportsbooks," said C.J. Pierre, lead analyst for PlayAZ.com.

"The early launchers caught the vast majority of the football season and they were in position to catch the early excitement created by the Suns' hot start. Plus, Arizona's sportsbooks were able to ride a historic wave of winning in November that easily produced record revenue for operators in the U.S. All of it has helped the state's sportsbooks get off to an unprecedented debut."

Arizona online and retail sportsbooks attracted $466.7 million in wagers in November, down 4.0% from the $486.1 million in bets generated in October, according to official data released Tuesday by the Arizona Department of Gaming. A modest drop from October, which had five full weekends of NFL and college football games, follows national trends. Average betting volume remained high as the state's sportsbooks averaged $15.6 million in wagers per day in November, down slightly from $15.7 million in wagers per day in October.

Arizona's operators added to what was a record-shattering $723.7 million win for U.S. sportsbooks in November. Sportsbooks in the Grand Canyon state won $51.4 million in gross revenue, which was up from $37.5 million in October. After $18.4 million in promotional credits, the state taxed $31.9 million in gross event wagering receipts. That produced $3.2 million in privilege fees for the state.

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